Chinese survey picks up in July

Ben Southwood
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BUSINESS conditions in Chinese factories worsened this month, according to data released yesterday by Markit and HSBC.

Yet the fall was only marginal, as the rate of decline improved significantly.

The flash purchasing managers’ index (PMI) for manufacturing rose to 49.5 in July, where 50 indicates no change – the highest result for five months.

In the previous month, June, the PMI score had come in at 48.2, indicating deeper contraction.